Ann: Quarterly Activity Report & Appendix 4C, page-30

....yeah, sorry guys. Spent a few hours looking at this and just cannot mathematically reverse engineer any convincing unit pricing from OCC's Appendix 4C's. No matter how I vary the lags on cash accounting receipts vs units sales given and base organic sales exclusive of DVT and BH, it just doesn't give a convincingly symmetry with realistic unit prices generated revenues vs cash flows.

This will be easier to do once we get the formal full year accrual accounting results. Its like the accounting dept. went on holiday in 3Q23 and didn't bother collecting cash. One thing is glaring. The cash receipts for the increased sales have not remotely hit yet, unless Striate is being sold for a dollar or pre-existing sales exclusive of BH are of larger numbers (alas we know that's not true):

FY23 Striate units via BH			10936
FY23 Remplir units via DVT			682
FY23
Qtr		Sriate	Remplir		Cash revenues (k)	(FY22)
4		5482	362		645	407
3		2339	100		265	313
2		2726	36		500	378
1		389	184		463	356
FY23		10936	682	0	1873	1454

OCC increased its BH Striate sales by 1300% 4Q to 1Q and Remplir by 96% and yet receipts go from only $463K to $645K QoQ? Suspect the forthcoming full year results revenues, that will of course be accounted on an accrual basis, are going to dwarf the reported full year sales receipts that are calculated on a cash flow basis - otherwise something is up with their accounting/reporting.

Even if you went with Jonesing's lowest base gross prices of $45 and $812 for Striate and Remplir, the increase of accrued revenues between the two would be $374K - and $648K at the upper end of the range. Similarly only $645K vs $407K, 4QFY23 vs 4QFY22 after an explosion in relative sales in BH Striate sales across the two. Clearly these unit sales increases have not shown in cash receipts in any remotely consistent fashion in the Appendix 4C's, and a significant portion appear yet reflected at all in accounting figures to date vs reported sales increases.

Me thinks some impressive full year accounts coming our way. An interesting lesson in accrual accounting vs the cash flows - you have to look at both.